16,811 Shares in La-Z-Boy Incorporated $LZB Bought by Jupiter Topco LLC

Jupiter Topco LLC bought a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 16,811 shares of the company’s stock, valued at approximately $674,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of La-Z-Boy during the 2nd quarter valued at about $265,535,000. Vanguard Group Inc. grew its position in shares of La-Z-Boy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock valued at $179,422,000 after purchasing an additional 38,513 shares during the period. Sei Investments Co. increased its stake in La-Z-Boy by 69.5% during the 1st quarter. Sei Investments Co. now owns 116,124 shares of the company’s stock worth $3,732,000 after purchasing an additional 47,626 shares in the last quarter. Pacer Advisors Inc. increased its stake in La-Z-Boy by 49.5% during the 1st quarter. Pacer Advisors Inc. now owns 182,698 shares of the company’s stock worth $5,872,000 after purchasing an additional 60,518 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in La-Z-Boy during the 1st quarter worth approximately $4,884,000. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Stock Down 0.1%

La-Z-Boy stock opened at $32.72 on Monday. The business’s 50-day moving average price is $38.22 and its two-hundred day moving average price is $36.42. The stock has a market cap of $1.31 billion, a PE ratio of 16.61, a P/E/G ratio of 1.10 and a beta of 1.23. La-Z-Boy Incorporated has a 12-month low of $29.03 and a 12-month high of $44.90.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. The firm had revenue of $475.69 million for the quarter, compared to analyst estimates of $501.44 million. During the same period last year, the business earned $0.47 EPS. The company’s revenue was down 3.4% compared to the same quarter last year. As a group, analysts expect that La-Z-Boy Incorporated will post 2.7 earnings per share for the current year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd will be issued a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, September 3rd. La-Z-Boy’s dividend payout ratio (DPR) is currently 49.24%.

Insider Transactions at La-Z-Boy

In other news, insider Terrence Linz sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $40.23, for a total transaction of $100,575.00. Following the transaction, the insider owned 64,383 shares of the company’s stock, valued at $2,590,128.09. This represents a 3.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael Leggett sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $41.66, for a total transaction of $374,940.00. Following the sale, the senior vice president owned 47,551 shares in the company, valued at $1,980,974.66. The trade was a 15.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 66,299 shares of company stock worth $2,677,491. 3.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LZB has been the subject of several research analyst reports. KeyCorp reduced their price target on shares of La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, August 20th. Zacks Research cut La-Z-Boy from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.50.

La-Z-Boy Profile

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.